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If Namecoin were to become popular, wouldn't that encourage more mining of Bitcoin even if you were doing merged mining? It seems like if Namecoin took off then
by skyfaller 7y ago
If Namecoin were to become popular, wouldn't that encourage more mining of Bitcoin even if you were doing merged mining? It seems like if Namecoin took off then people would just say the reverse, "Don't worry about the environmental damage of Bitcoin, people were already mining Namecoin so there's no additional harm."
- sprash 7y agoIt will take a long time until NMC will be as popular as BTC if ever. Until then let other people figure out how to implement a proper proof of stake and switch to it when the time comes. In the mean time merged mining is the best compromise between rock solid chain security and environmental impact.
- neiman 7y agoGood question. Do you assume that if Namecoin were to become super popular, the price of its coin would become very high? I don't see why. Can you explain this assumption? Namecoins are not Bitcoins, they're not supposed to be used as a currency, so the logic that the popularity of Namecoin would create a huge raise in its price is not straightforward.